Jellyfish Machine Shop is a manufacturer of golf carts. Peter Cranston, the plant manager of Jellyfish Machine, obtains the following information for Job #22 in August 2020. A total of 23 units were started, and 3 spoiled units were detected and rejected at final inspection, yielding 20 good units. The spoiled units were considered to be normal spoilage. Costs assigned prior to the inspection point are $1,250 per unit. Assume that Job # 22 of Jellyfish Machine Shop generates scrap with a total sales value of $500 (it is assumed that scrap returned to the storeroom is sold quickly). Prepare the journal entries for the recognition of scrap, assuming the following: (Record debits first, then credits. Exclude explanations from any journal entries.) a. The value of scrap is immaterial and scrap is recognized at the time of sale. Journal Entry Accounts Debit Credit b. The value of scrap is material, is related to a specific job, and is recognized at the time of sale. Journal Entry Accounts Debit Credit